Annual report [Section 13 and 15(d), not S-K Item 405]

Summary of Significant Accounting Policies (Tables)

v3.25.1
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Summary of Components of Marketable Securities
The following is a summary of the components of our marketable securities and the underlying fair value input level tier hierarchy (see fair value of financial instruments) (in thousands):
As of December 31, 2024
Amortized
Cost
Unrealized
Gains
Unrealized
Losses
Fair
Value
Corporate stock $ 148  $ —  $ (148) $ — 
$ 148  $ —  $ (148) $ — 
As of December 31, 2023
Amortized
Cost
Unrealized
Gains
Unrealized
Losses
Fair
Value
Corporate stock $ 3,528  $ —  $ (401) $ 3,127 
$ 3,528  $ —  $ (401) $ 3,127 
Schedule of Accounts Receivable Net
Accounts are written off as uncollectible at the time we determine that collections are unlikely. Accounts receivable, net is comprised of the following (in thousands):
December 31, 2024 December 31, 2023
Trade accounts receivable $ 34,901  $ 39,678 
Unbilled accounts receivable —  — 
34,901  39,678 
Less allowances (14,843) (3,864)
Total accounts receivable $ 20,058  $ 35,814 
Accounts Receivable, Allowance for Credit Loss
The table below presents a roll forward of the Company's allowance for credit losses (amount in thousands).
Beginning balance as of January 1, 2023 $ 3,140 
Current period provision for expected credit losses 724 
Balance as of December 31, 2023 3,864 
Current period provision for expected credit losses 11,018 
Accounts written off (39)
Balance as of December 31, 2024 $ 14,843 
Schedule of Components of Inventory
At December 31, 2024 and 2023, the components of inventory are as follows (in thousands):
December 31,
2024
December 31,
2023
Diagnostic services testing material $ 564  $ 623 
Raw materials 147  448 
Work in process 65  119 
Finished goods 375  1,320 
Inventory $ 1,151  $ 2,510 
Inventory valuation reserve (8) (219)
Inventory, net $ 1,143  $ 2,291 
Schedule of Fair Value of Financial Instruments
As of December 31, 2024
Level 1 Level 2 Level 3 Total
Corporate stock $ —  $ —  $ —  $ — 
As of December 31, 2023
Level 1 Level 2 Level 3 Total
Corporate stock $ 3,127  $ —  $ —  $ 3,127 
Schedule of Disaggregation of Deferred Revenue
The following table disaggregates our deferred revenue by recognition period (in thousands):
As of December 31, 2024 As of December 31, 2023
Recognition Period
0-12 Months $ 1,698  $ 2,382 
13-24 Months 784  1,110 
Total $ 2,482  $ 3,492 
The following table disaggregates the Company’s revenue by revenue source for Fiscal 2024 and 2023 (in thousands):
For the years ended
Revenue by Customer Type December 31, 2024 December 31, 2023
Diagnostic services $ —  $ 24,849 
Retail and others 1,492  2,378 
Genomic products and services 5,278  7,757 
Total revenue, net $ 6,770  $ 34,984